To reduce its dependence on Russian imports, German based E.ON has partnered with Australian Fortescue Future Industries (FFI). This partnership aims to deliver 5 million tonnes of green hydrogen to Europe by 2030, which will be a significant contribution to the decarbonization targets of the region. The 5 million tonnes green hydrogen target would require about 60 to 70 GW of renewable capacity for which, the FFI has already put projects in motion. The interesting aspect of this news is that this partnership requires $50 billion, which is being termed as one of the largest ever energy investments of any kind. Germany imports more than 60% of its energy demand, the bulk of which comes from Russia. The country has been badly caught out by the Russian invasion of Ukraine due to which it is now moving towards alternate options, the prime one being green hydrogen. The green hydrogen will be produced in Australia by FFI and then shipped to Germany in the form of ammonia, which is more easy to store and transport. It will then be distributed by E.ON to its 50 million customers, primarily in Germany and Netherlands, with special focus on medium-sized industrial customers-where most hydrogen demand is expected. This partnership will reduce Germany’s reliance on Russian imports accounting for approximately one-third of the energy imports. It will decarbonize thousands of medium-sized enterprises all over Germany and Netherlands as well as some other European communities to which E.ON distributes energy. This partnership will build a hydrogen bridge between Australia and Europe, reduce fossil fuel consumption in the European continent, substitute the Russian energy supply and create a massive employment industry in Australia whereas both FFI and E.ON will become the European Union’s largest green hydrogen supplier and distributor.
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